Ready-to-eat (RTE) food products are various processed and packed foods that can be consumed without further preparation. The ingredients are washed, cooked, processed, frozen, and put into containers for immediate consumption. RTE foods include meat, shelf-stable foods, powder mixes, baked goods, desserts, cheese, and dairy products. These goods include a variety of extracts, acids, flavours, sweeteners, antioxidants, and preservatives. They provide enormous convenience to the user while also reducing meal preparation time, increasing product shelf-life, cost-efficiency, and reducing spoilage and waste.
Europe Ready-to-Eat Food Market Driving Factors and Challenges
The landscape of the European ready-to-eat food sector is shaped by a number of drivers and difficulties. Changing lifestyles and urbanisation fuel demand for convenient meal solutions, while customer preferences for quick and easy options help to drive market expansion. Continuous innovation in product creation and packaging, combined with health and wellness trends, drives demand even higher. The expanding food and beverage industry, combined with increased urbanisation, is one of the primary drivers of market expansion. Furthermore, the growing working population and improved consumer lifestyles have increased global consumption of RTE food products. Due to hectic schedules, there is widespread adoption of on-the-go convenience meal products that take little time and ingredients to cook.
Furthermore, the expanding number of quick-service restaurants (QSRs) and the emerging café culture, together with rising consumer spending power, are fueling demand for RTE food products. Manufacturers are releasing unique flavoured variations that are high in useful ingredients to meet nutritional needs, which is contributing to their popularity among customers. Other factors, such as the expansion of online retailing networks and aggressive promotional efforts by vendors, are expected to propel the market further.
Despite its expansion, the European ready-to-eat food business has numerous problems. Intense competition among market participants causes pricing pressures and margin loss. Concerns about the nutritional composition and health consequences of some ready-to-eat choices continue, hurting consumer trust and demand. Supply chain disruptions, compounded by global crises and natural catastrophes, provide logistical challenges in ensuring a consistent flow of products. Environmental concerns about the excess packaging waste caused by ready-to-eat foods pose sustainability problems. Regulatory compliance obligations, such as food safety regulations and labelling requirements, pose additional challenges to market participants, complicating operations and increasing expenses. Overcoming these obstacles is critical for long-term growth and success in the sector.
Impact of COVID-19 on Europe Ready-to-Eat Food Market
The COVID-19 outbreak has increased demand for convenience products. During the epidemic, consumers were frequently purchasing ready-to-eat or ready-to-cook meals due to their low cost. All restaurants, hotels, and shopping malls have undertaken severe lockdown measures, affecting eating habits around the world as a result of lockdown and public safety precautions. As dining alternatives were restricted, many individuals turned to home-cooked meals and packaged ready foods that could be delivered to their homes via various supermarkets or hypermarkets, as well as e-commerce grocery shop home delivery possibilities. Fear of spreading the infection in public settings has led to the purchasing of packaged, long-lasting Ready to Eat Food rather than fresh food.
Europe Ready-to-Eat Food Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Conagra Brands, Inc., Dr August Oetker Nahrungsmittel KG, Ebro Foods, S.A., Frosta Aktiengesellschaft (FRoSTA AG), McCain Foods Limited, Nestlé S.A., Nomad Foods Ltd, Premier Foods Group Limited, The Kellogg Company, The Kraft Heinz Company, Others.
Europe Ready-to-Eat Food Market Segmentation:
By Form: Based on the Form, Europe Ready-to-Eat Food Market is segmented as; Instant Breakfast/Cereals, Instant Soups, Frozen Snacks, Meat Snacks, Ready Meals, Instant Noodles.
By Distribution Channel: Based on the Distribution Channel, Europe Ready-to-Eat Food Market is segmented as; Convenience Stores/Grocery stores, Hypermarkets/Supermarkets, Online Retail Stores, Other Distribution Channels.
By Region: This research also includes data for France, Germany, Italy, Russia, Spain, United Kingdom, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.